AFFORDABLE - Cup and Handle - Breakout - DailyThe chart you provided shows a **Cup and Handle** pattern in the stock **Affordable Robotic & Automation Ltd (BSE)**, which is a bullish continuation pattern typically suggesting the potential for a significant upward breakout once confirmed.
### Key Insights:
1. **Cup and Handle Formation**:
- The rounded structure below forms the **cup**, which indicates a consolidation phase followed by a breakout.
- After the cup's formation, a small **pullback** occurred (handle), which is typical before a breakout.
- The breakout happened when the price surged above the **702.90** level (marked on the chart), but it has now slightly pulled back to **767.55**.
2. **Measured Move Target**:
- The chart measures a potential **41.73% move** (target around 994.50 INR) and a larger potential move of **71.61%** from the breakout level, showing a possible price target of **1,056 INR** if the bullish momentum continues.
3. **Support and Resistance**:
- **702.90 INR** acts as the key support level, coinciding with the cup's breakout point.
- The next significant support is at **610 INR**, which could act as a safety zone in case of a deeper pullback.
- On the upside, the previous high near **851 INR** could act as initial resistance before reaching higher targets.
The bullish volume spikes during the breakout and handle formation suggest strong buying interest, and if the price holds above key support levels, it could resume its uptrend toward the higher targets.
